• Subscribe to our newsletter
The Media Online
  • Home
  • MOST Awards
  • News
    • Awards
    • Media Mecca
  • Print
    • Newspapers
    • Magazines
    • Publishing
  • Broadcasting
    • TV
    • Radio
    • Cinema
    • Video
  • Digital
    • Mobile
    • Online
  • Agencies
    • Advertising
    • Media agency
    • Public Relations
  • OOH
    • Events
  • Research & Education
    • Research
    • Media Education
      • Media Mentor
  • Press Office
    • Press Office
    • TMO.Live Blog
    • Events
    • Jobs
No Result
View All Result
  • Home
  • MOST Awards
  • News
    • Awards
    • Media Mecca
  • Print
    • Newspapers
    • Magazines
    • Publishing
  • Broadcasting
    • TV
    • Radio
    • Cinema
    • Video
  • Digital
    • Mobile
    • Online
  • Agencies
    • Advertising
    • Media agency
    • Public Relations
  • OOH
    • Events
  • Research & Education
    • Research
    • Media Education
      • Media Mentor
  • Press Office
    • Press Office
    • TMO.Live Blog
    • Events
    • Jobs
No Result
View All Result
The Media Online
No Result
View All Result
Home News Media business

Brands need to reach out or lose out

by Quinton Luck
November 5, 2021
in Media business
0 0
0
Brands need to reach out or lose out
Share on FacebookShare on Twitter

Today customer relationship management (CRM) is more important than ever before.

Never before has the phrase, a bird in the hand is worth two in the bush, rung so true for me. Over the past 18 months I’ve enjoyed seeing how brands have reacted to the Covid-19 pandemic. Unfortunately, I find myself being disappointed rather than impressed, because I firmly believe that, in a time of crisis, it is imperative to focus on what you have rather than what you could have. And there’s no better way to harness that than by strengthening your CRM game.

Even during ‘normal’ times, a strong focus on CRM is crucial. Take the leaky bucket theory for example. This concept suggests that brands are always losing customers so, to maintain share, they must win an equal number of new customers to keep the bucket full.

However, in a time of crisis, customers are more focused on evaluating the value they get from their purchased products and this often results in them ending their relationship with a business or moving onto a competitor. What this means is that you could lose customers at a higher rate than usual, without being able to replace them fast enough. So, why not focus on the customers you have and show them your value?

In most cases the better value customers think they are moving on to doesn’t often turn out the way they’d planned. So why would so many businesses out there still rather spend the bulk of their marketing budget on acquisition in an effort to top up the bucket rather than trying to retain their existing customer base – which is more often cost effective and easier to do?

As an example, last month, I drove past a billboard with an acquisition advert from a brand I have had a relationship for over 10 years. I realised I couldn’t remember when they last spoke directly to me. I cancelled my relationship with them the very next day, and I know there are many more customers just like me.

So, what kind of cost-effective and agile CRM activities could businesses use to help them retain customers?

Some top tips:

  1. Send out a small, yet relevant value-add as a thank you for their custom. This could be a voucher, free product or discount (without a minimum spend please!)
  2. People actually love to be in the know – therefore make them aware of the other products you sell (cross-sell) or update them as to where your business or brand is going and how this can benefit them in the short term.
  3. Utilise the customer data you have to provide a better overall experience for them. Think of things like home delivery, added online services or automating basic queries with the use of chatbots.
  4. Ask for feedback and act on it.
  5. Lastly, one of the most forgotten, yet most powerful actions any business can take to drive retention is to pick up the phone. How many CEOs or CMOs call a handful of their customers daily just to ask how they’re doing and if there’s anything else they could do to improve their experience. The positive sentiment on your customer base is incredible.

When you’re planning your next marketing activity, whatever you do, don’t forget to feed the bird that’s already in your hand.

Quinton Luck

MD of both Saatchi & Saatchi (www.saatchi.co.za) as well as Arc (www.arcww.co.za). This allows me to offer clients a wider service offering ranging from: Creative, Strategy, Client Service, Social, Digital, CRM, Marketing Automation, Direct Marketing, Activations and a full range of Data Services. Most recent completion is the build of a larger dedicated data services team to support the entire Publicis Groupe in South Africa.

Follow Us

  • twitter
  • threads
  • Trending
  • Comments
  • Latest
Kelders van Geheime: The characters are here

Kelders van Geheime: The characters are here

March 22, 2024
Dissecting the LSM 7-10 market

Dissecting the LSM 7-10 market

May 17, 2023
Keri Miller sets the record straight after being axed from ECR

Keri Miller sets the record straight after being axed from ECR

April 23, 2023
Getting to know the ES SEMs 8-10 (Part 1)

Getting to know the ES SEMs 8-10 (Part 1)

February 22, 2018
Sowetan proves that sex still sells

Sowetan proves that sex still sells

105
It’s black. It’s beautiful. It’s ours.

Exclusive: Haffajee draws a line in the sand over racism

98
The Property Magazine and Media Nova go supernova

The Property Magazine and Media Nova go supernova

44
Warrant of arrest authorised for Media Nova’s Vaughan

Warrant of arrest authorised for Media Nova’s Vaughan

41
African Gen Z on the rise in the global influence economy

African Gen Z on the rise in the global influence economy

June 6, 2025
Think WhatsApp is just for memes and group chats?

Think WhatsApp is just for memes and group chats?

June 6, 2025
Celebrate Presley Chweneyagae with Tsotsi and the Cobrizi Finale

Celebrate Presley Chweneyagae with Tsotsi and the Cobrizi Finale

June 6, 2025
SEO: How to survive (and thrive) in an age of AI

SEO: How to survive (and thrive) in an age of AI

June 5, 2025

Recent News

African Gen Z on the rise in the global influence economy

African Gen Z on the rise in the global influence economy

June 6, 2025
Think WhatsApp is just for memes and group chats?

Think WhatsApp is just for memes and group chats?

June 6, 2025
Celebrate Presley Chweneyagae with Tsotsi and the Cobrizi Finale

Celebrate Presley Chweneyagae with Tsotsi and the Cobrizi Finale

June 6, 2025
SEO: How to survive (and thrive) in an age of AI

SEO: How to survive (and thrive) in an age of AI

June 5, 2025

ABOUT US

The Media Online is the definitive online point of reference for South Africa’s media industry offering relevant, focused and topical news on the media sector. We deliver up-to-date industry insights, guest columns, case studies, content from local and global contributors, news, views and interviews on a daily basis as well as providing an online home for The Media magazine’s content, which is posted on a monthly basis.

Follow Us

  • twitter
  • threads

ARENA HOLDING

Editor: Glenda Nevill
glenda.nevill@cybersmart.co.za
Sales and Advertising:
Tarin-Lee Watts
wattst@arena.africa
Download our rate card

OUR NETWORK

TimesLIVE
Sunday Times
SowetanLIVE
BusinessLIVE
Business Day
Financial Mail
HeraldLIVE
DispatchLIVE
Wanted Online
SA Home Owner
Business Media MAGS
Arena Events

NEWSLETTER SUBSCRIPTION

 
Subscribe
  • About
  • Advertise
  • Privacy & Policy
  • Contact

Copyright © 2015 - 2023 The Media Online. All rights reserved. Part of Arena Holdings (Pty) Ltd

No Result
View All Result
  • Home
  • MOST Awards
  • News
    • Awards
    • Media Mecca
  • Print
    • Newspapers
    • Magazines
    • Publishing
  • Broadcasting
    • TV
    • Radio
    • Cinema
    • Video
  • Digital
    • Mobile
    • Online
  • Agencies
    • Advertising
    • Media agency
    • Public Relations
  • OOH
    • Events
  • Research & Education
    • Research
    • Media Education
      • Media Mentor
  • Press Office
    • Press Office
    • TMO.Live Blog
    • Events
    • Jobs

Copyright © 2015 - 2023 The Media Online. All rights reserved. Part of Arena Holdings (Pty) Ltd

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?